• Sun. Dec 3rd, 2023

Car Auto Insurance

It's My Car Car Auto Insurance

10 Largest Car Insurance Companies in the U.S. 2023

The average prices from USAA are the best rates among the top five largest car insurance companies. The provider’s average costs are an impressive 39% cheaper than the national average for full-coverage auto insurance.

Keep reading: USAA insurance review

#6 Liberty Mutual: Good Programs for Young Drivers

BBB rating: A+

AM Best financial strength rating: A

J.D. Power 2022 claims satisfaction score: 870 out of 1,000

Headquarters: Boston, Massachusetts

Liberty Mutual is the sixth-largest car insurance provider in the U.S. It offers car insurance discounts such as good student, student away at school and multi-car that can benefit families with young drivers. Furthermore, Liberty Mutual’s RightTrack® telematics program rewards drivers with additional discounts of up to 30% for good driving behaviors.

You’ll need to reach out to Liberty Mutual for a quote based on your driving profile and insurance needs. Our team was unable to get a national average for minimum- and full-coverage policies with this provider.

Keep reading: Liberty Mutual insurance review

#7 Farmers Insurance

BBB rating: A

AM Best financial strength rating: A

J.D. Power 2022 claims satisfaction score: 882 out of 1,000

Headquarters: Woodland Hills, California

As the nation’s seventh-largest auto insurer, Farmers Insurance offers unique optional plans such as customized equipment coverage, loss of use coverage, rideshare insurance and personal umbrella insurance. In addition, Farmers has an app called Signal® that can either lower or increase your insurance premiums based on driving habits.

The national average of a minimum-coverage auto insurance plan through Farmers is $881 per year while a full-coverage policy comes out to $2,140 annually. Both averages from Farmers Insurance are significantly higher than the typical rates for comparable car insurance policies.

Keep reading: Farmers Insurance review

#8 Nationwide

BBB rating: A+

AM Best financial strength rating: A+ 

J.D. Power 2022 claims satisfaction score: 868 out of 1,000

Headquarters: Columbus, Ohio

Coming in as the eighth-largest car insurance company, Nationwide provides all standard auto coverage options to policyholders. It also offers discounts for having multiple policies, staying accident-free and being either a good student or a safe driver. Furthermore, it has usage-based and pay-per-mile insurance programs known as SmartRide® and SmartMiles®, respectively.

The average cost of a minimum-coverage car insurance policy with Nationwide is $613 per year while full coverage comes in at $1,281 per year. These averages are cheaper than the national rates for both minimum- and full-coverage auto insurance plans.

Keep reading: Nationwide insurance review

#9 American Family Insurance

BBB rating: A

AM Best financial strength rating: A

J.D. Power 2022 claims satisfaction score: 874 out of 1,000

Headquarters: Madison, Wisconsin

American Family Insurance is the ninth-largest auto insurance provider in the U.S. and has a wide array of discounts such as young volunteer, generational, low mileage, early bird and multi-vehicle. It also offers some nontraditional insurance plans like rental car reimbursement, gap insurance and accidental death and dismemberment coverage.

The average premium for minimum-coverage insurance from American Family Insurance is $685 per year while the average for full coverage is $1,537 per year. The typical rate for a full-coverage insurance policy from American Family is considerably lower than the national average.

Keep reading: American Family Insurance review

#10 Travelers: Most Coverage Options

BBB rating: A

AM Best financial strength rating: A++

J.D. Power 2022 claims satisfaction score: 854 out of 1,000

Headquarters: New York City

As the 10th-largest car insurance provider, Travelers has earned our team’s distinction as the company with the Most Coverage Options. It offers add-on coverages like loan/lease gap insurance, accident forgiveness and named non-owner coverage. Like many other reputable insurers, Travelers also offers drivers a telematics savings program — theirs is called IntelliDrive®.

The average cost of minimum-coverage insurance from Travelers is $730 per year and the typical full-coverage policy with Travelers is $1,669 per year. While minimum coverage from Travelers is higher than the national average, a full-coverage policy is slightly cheaper.

Keep reading: Travelers insurance review


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